Mason Street Advisors LLC purchased a new position in SLM Corp. (NASDAQ:SLM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 195,150 shares of the company’s stock, valued at approximately $1,206,000.
A number of other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of SLM Corp. by 11.6% in the second quarter. Bank of New York Mellon Corp now owns 44,688,632 shares of the company’s stock worth $276,176,000 after buying an additional 4,659,355 shares during the period. Norges Bank acquired a new stake in shares of SLM Corp. during the fourth quarter worth approximately $18,093,000. Dimensional Fund Advisors LP raised its stake in shares of SLM Corp. by 61.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,733,872 shares of the company’s stock worth $35,434,000 after buying an additional 2,189,157 shares during the period. Royal Bank of Canada raised its stake in shares of SLM Corp. by 2,293.4% in the first quarter. Royal Bank of Canada now owns 2,275,832 shares of the company’s stock worth $14,474,000 after buying an additional 2,180,745 shares during the period. Finally, Boston Partners raised its stake in shares of SLM Corp. by 8.8% in the second quarter. Boston Partners now owns 21,950,337 shares of the company’s stock worth $135,653,000 after buying an additional 1,778,223 shares during the period.
SLM Corp. (NASDAQ:SLM) opened at 7.45 on Friday. The stock has a 50 day moving average price of $7.32 and a 200 day moving average price of $6.75. SLM Corp. has a 12 month low of $5.09 and a 12 month high of $7.90. The stock has a market capitalization of $3.19 billion, a PE ratio of 13.55 and a beta of 1.08.
SLM Corp. (NASDAQ:SLM) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.01. The company had revenue of $212.76 million for the quarter, compared to the consensus estimate of $216.48 million. SLM Corp. had a return on equity of 16.85% and a net margin of 24.53%. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.20 EPS. On average, equities research analysts forecast that SLM Corp. will post $0.52 earnings per share for the current fiscal year.
SLM has been the topic of a number of recent analyst reports. Vetr upgraded SLM Corp. from a “buy” rating to a “strong-buy” rating in a report on Friday, June 17th. TheStreet upgraded SLM Corp. from a “hold” rating to a “buy” rating in a report on Monday, August 1st. Zacks Investment Research upgraded SLM Corp. from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a report on Monday, July 25th. Compass Point lifted their price target on SLM Corp. from $8.50 to $9.00 and gave the stock a “buy” rating in a report on Thursday, July 21st. Finally, Goldman Sachs Group Inc. raised SLM Corp. from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, August 11th. One analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. SLM Corp. presently has an average rating of “Buy” and a consensus target price of $9.14.
About SLM Corp.
SLM Corporation (Sallie Mae) is the nation’s saving, planning, and paying for college company. Sallie Mae offers products, which promote personal finance including private education loans, Upromise rewards, scholarship search, college financial planning tools, insurance, and online retail banking.
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